Pan African Resources Share Discussion Threads

[cinoib] 20/3/2024 21:03

Hope you ve all seen the gold price lately, has shot up to 2,185 just now. If that holds we might get past 22 p at last and stay there

[justiceforthemany] 20/3/2024 16:42

Which mine - Evander?

[allesandro] 19/3/2024 14:11

A cheeky offer of 32p a share might tempt shareholders here and the ii,s

Lets see what transpires :-)

[allesandro] 19/3/2024 13:28

We are being prepared for a major breakout here IMO check those very very large late reported buys from yesterday.In terms of a T/O we are probably the tastiest option out there at the moment with our low P/E and pending production increases alongside the booming Gold price.It will happen IMVHO

[dantee] 19/3/2024 11:43

1_dma

Good point - i have a hunch there is a BID INCOMING here soon too going by some of the activity in the sector.There is no such other proven producer that is trading at such a low P/E ratio as this in this sector.....which means one thing ( tuck em away at these lows and sit tight ) .

[1_dma] 19/3/2024 08:38

Dantee - yes i remember in the early days of the mine they had a few rather large nuggets when they had that small landslip. There is always a chance of bonanza finds in this geology though as i remember from my time in chile.

[dantee] 19/3/2024 08:11

NICE ! the geology of that type of mine does throw up anomilies from time to time so great timing with other events going on.

[1_dma] 19/3/2024 07:55

Interesting

I just seen a post on TikTok which appears to be posted from an employee in our deep mine and seems to be indicating they have just discovered a freak find of several dozen large nuggets.I do not recognise the guy posting but the guy next to him i have seen in official company photos before.Is hard to judge the size of the nuggests but the one he is holding in his hand is as big as a snooker ball and the others in the cart look a simular size.

If this is true this could go mental here today, i have sent the guy a msg and will report back any info and then a link etc. KEEP ON EYE ON THE PRICE HERE TODAY !

[stonedyou] 12/3/2024 12:08

Gold: This Breakout Is Unambiguous.

Review

After a sharp two-month rise to a new all-time high of USD 2,149 on December 4th, the gold market experienced a sharp pullback to USD 1,973 in the final weeks of the old trading year, followed by a rapid recovery to USD 2,088. To digest this overall quite tumultuous market activity, gold prices entered a slow and confusing sideways phase since the beginning of the year. This was necessary to calm down the overbought situation after this rollercoaster ride. Gold – This breakout is unambiguous.

During this consolidation, all attempts to break out on the upside repeatedly failed at the resistance zone around USD 2,055. At the same time, the psychological level of USD 2,000 resisted the bear attacks. Only in mid-February did they seem to successfully break through to the downside. However, the drop below USD 2,000 quickly turned out to be a bear trap because, starting from the low of USD 1,985, gold prices reclaimed the psychological round number support with a closing price of USD 2,004 on the next trading day.


Bear Trap Below USD 2,000

Subsequently, gold prices rose steeply and continuously for a total of 18 trading days from that February 14th. Since breaking through the downtrend line at USD 2,055 on Friday of the previous week, this rally has accelerated. Gold prices not only effortlessly surpassed the old all-time high at USD 2,075 but also reached the highest level ever, peaking at USD 2,195 during last Friday.

Undoubtedly, this marks the definitive end of the 13-year correction and consolidation phase that repeatedly hindered bullish efforts in the range between USD 1,900 and USD 2,075. Consequently, the steep breakout rally pushed gold up by over USD 210 in a very short period of time. Regardless of short-term pullbacks or interim consolidations, this likely signifies only the beginning of the next major uptrend in the precious metals sector!

Source: Tradingview

After the initial attempt failed back in December, gold finally and decisively surpassed the major resistance of the last three and a half years around USD 2,075 on Friday, 1st of March. This bullish price action confirms the significant inverse head and shoulders formation and brings an end to the long wait. The target from this formation is approximately USD 2,535 and could potentially be reached in one volatile surge!

However, on the weekly chart, gold prices are currently trading well outside the upper Bollinger Band (USD 2,153). Statistically, the air is somewhat thin with prices around USD 2,180 at least in the short term.

Yet, it is essential not to underestimate the fact that the energy accumulated over three and a half years is now being unleashed in the gold market. The momentum is clearly on the side of the bulls. It can also be assumed that after the two-and-a-half-month consolidation, the ongoing rally is unlikely to end after just three weeks. In case of doubt, the new uptrend may continue swiftly but with volatility.

Overall, the weekly chart is bullish. Gold should be on its way towards USD 2,535 in the medium term. Significantly higher prices are also conceivable afterward. Possible pullbacks to the old resistance zone in the range between USD 2,075 and USD 2,100 should still be anticipated and would be a buying opportunity.

Daily Chart: Stochastic Bullish Embedded

[stonedyou] 11/3/2024 15:20

GOLD / USD
$ 2183.89$ 2184.00 4.86 0.22%

GOLD / GBP
£ 1704.84£ 1704.99 10.51 0.62%

GOLD / EUR
€ 1999.77€ 1999.89 8.20 0.41%

[stonedyou] 11/3/2024 15:17

GOLD / USD
$ 2182.77$ 2182.95 3.74 UP 0.17%

GOLD / GBP
£ 1703.62£ 1703.81 9.29 UP 0.55%

GOLD / EUR
€ 1998.88€ 1999.03 7.31 UP 0.37%

[stonedyou] 11/3/2024 15:11

GOLD / USD
$ 2181.90$ 2182.07 2.87 UP 0.13%

GOLD / GBP
£ 1702.93£ 1703.08 8.61 UP 0.51%

GOLD / EUR
€ 1997.62€ 1997.78 6.05 UP 0.30%

[stonedyou] 11/3/2024 14:21

"BE READY! Massive Gold & Silver Squeeze Is On Its Way" - Michael Oliver | Gold Silver Price

Bullion News
18.6K subscribers


5,602 views Mar 8, 2024 #inflation #fed #gold

"BE READY! Massive Gold & Silver Squeeze Is On Its Way" - Michael Oliver | Gold Silver Price
#michaeloliver #gold #silver #fed #inflation #economy

Michael Oliver is an expert in economics, investing, precious metals, and technical analysis. He entered the financial services industry in 1975 and began in 1980s to develop his own momentum-based method of technical analysis.

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[stonedyou] 11/3/2024 14:06

COMMODITY REPORT: Gold, Silver & Crude Oil Price Forecast: 8 March 2024

TheGoldAndSilverClub


The Gold & Silver Club is the world's leading authority on Commodities Trading, Research and Data-Intelligence specializing in the Metals, Energy and Agriculture markets.

Read Our Client Testimonials Here ▶

[stonedyou] 11/3/2024 14:00

Rebecca Patterson says China is biggest factor driving gold prices higher.

CNBC Television.


26,917 views Mar 8, 2024

Rebecca Patterson, Fmr. Bridgewater chief strategist, joins the 'Fast Money' traders to discuss gold hitting record highs and what is behind the run.

[cinoib] 11/3/2024 10:27

Gold up, gold stocks up and this goes down. Looks like it will take a 2,300 break through to push this up and we are raking in best part of a $1,000 an oz profit

[stonedyou] 09/3/2024 11:45

AuAg Funds founder and CEO explains why now is gold miners' time to shine.

Published: 12:18 08 Mar 2024 GMT


AuAg Funds founder and CEO Eric Strand joins Proactive's Stephen Gunnion with the latest developments affecting the gold price and gold miners included in the AuAg ESG Gold Mining UCITS ETF (LSE:ESGP).

Strand said gold prices near all-time highs is very advantageous for gold miners, despite a historical lag in their response to gold price increases. The costs for miners have stabilized while gold prices are rising, promising improved profitability. Strand emphasizes the leverage effect in gold mining, where a 20% increase in gold price could result in a 40% gain for gold miners, attributing this to the net return difference between gold prices and operational costs.

Furthermore, he highlighted gold miners as undervalued, both in relation to gold and historically against the S&P 500. The current market dynamics, with strong holdings and reduced retail investor presence, present a ripe opportunity for valuation adjustments. Strand also notes a trend towards shareholder-friendly practices among miners, including reduced debt and cautious project investments, potentially avoiding past mistakes.

Consolidation activities within the sector are acknowledged, with a preference for acquiring known entities over costly exploration. The mid-sized companies are viewed as prime targets for larger firms, indicating a dynamic market.

Lastly, Strand projects a 20% rise in gold prices for the year, targeting nearly $2,500 by year-end, driven by anticipated lower interest rates and the sustaining momentum above $2100, which fosters a positive outlook for continued investment in gold.

[saint in exile] 09/3/2024 08:50

Profits increasing What's not to like.One of the best gold miners around